Infosys Ltd's Q4FY19 consolidated net profit rises 12.9% qoq to Rs4,074cr : Beats Estimates

The company’s consolidated revenue stood at Rs21,539 cr, up 0.6% qoq and 19.1% yoy.

Apr 12, 2019 10:04 IST India Infoline Research Team

Infosys Ltd Q4FY19

Consolidated Results Q4FY19: (Rs in cr)

Q4FY19 QoQ (%)
Revenue 21,539 0.6
EBIT 4,618 [4.4]
EBIT Margin (%) 21.4 [113]
Net Profit (adjusted) 4,074 12.9
***EBIT margin change is bps
Infosys reported in-line set of numbers for Q4FY19. Constant currency (cc) revenue grew by 2.1% qoq and US revenue came in at USD3,060mn, up 2.4% sequentially. Further, INR revenue grew by 0.6% qoq to Rs21,539cr, which is higher than median consensus estimate of Rs21,495cr. EBIT stood at Rs4,618cr, down 4.4% qoq against median consensus estimate of Rs4,758cr. EBIT margin was down by 113bps on qoq basis at 21.4%. PAT increased by 12.9% qoq to Rs4,074cr against median consensus estimate of Rs3,968cr. 
  • Revenue growth was driven by strong rebound in communications, which grew by 16.6% qoq cc. Hi Tech (+6.9% qoq cc) was another vertical that led growth, while Energy, Utilities, Resources & Servcies (+1.5% qoq cc) and Manufacturing (+1.6% qoq cc) have managed to build on higher base and have been posting 3-4 quarters of consecutive growth.
  • Financial services declined by 0.8% qoq cc, while weakness in Retail (-0.9% qoq cc) continued to persist.
  • Overall digital revenue grew by 9.7% qoq cc and now account for 33.8% of overall revenues.
  • Amongst geographies, North America and Europe grew by 3.7% qoq cc and 1.4% qoq cc, with N. America driving bulk of the growth. RoW declined by 1.3% qoq cc.
  • The total TCV for Q4FY19 was USD1.5bn+.
  • The company has guided for revenue growth in 7.5-9.5% in constant currency and EBIT margin guidance of 21-23%, which are broadly in-line with the estimates.
  • The company has announced final dividend of Rs10.5 per share.

Technical View:

Infosys Ltd ended at Rs. 747.85, up by 4.7 points or 0.63% from its previous closing of Rs. 743.15 on the BSE.
The scrip opened at Rs. 746 and touched a high and low of Rs. 751.50 and Rs. 741 respectively. A total of 74,28,432 (NSE+BSE) shares were traded on the counter. The stock traded below its 50 DMA.

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